Technical Analysis of S&P500 by BofAML
Very Nice Analysis done by BofAML, Must Read for Aspiring TA's
The technical pattern for S&P 500 and many other US and global equity market indices is sell rallies, according to BofAML's Stephen Suttmeier, who notes that the market is as overbought now as it was in July.
Last week's post Fed-Decision price action was a bearish key reversal day (or shooting star in Japanese candlesticks) on the S&P 500.
Given the risk of a bearish trend change, a bearish key reversal day is consistent with the sell rallies pattern.
S&P 500 levels for the week & beyond
Continue Reading
The technical pattern for S&P 500 and many other US and global equity market indices is sell rallies, according to BofAML's Stephen Suttmeier, who notes that the market is as overbought now as it was in July.
Last week's post Fed-Decision price action was a bearish key reversal day (or shooting star in Japanese candlesticks) on the S&P 500.
Given the risk of a bearish trend change, a bearish key reversal day is consistent with the sell rallies pattern.
S&P 500 levels for the week & beyond
Continue Reading
posted by Bramesh at
7:52 AM
0 Comments:
Post a Comment
Note: Only a member of this blog may post a comment.
Subscribe to Post Comments [Atom]
<< Home